ÎÞÂëÌìÌÃ

by Jess Gibson

Prioritising the early years has the potential to benefit the UK’s economy, according to a new report released today.

The Royal Foundation Business Taskforce for Early Childhood’s report – – sets out the business case for investing in early childhood in the workplace, community and wider society. 

The Taskforce, established by The Princess of Wales in March 2023, features members such as Aviva, The Co-operative Group and The LEGO Group, among others, all of whom have worked together to identify the scale of opportunity and the role that business can play. 

Produced by Deloitte on behalf of the Taskforce, the report details how investing in early childhood could generate at least £45.5 billion for the national economy per annum.  

The report also highlights five areas in which the business community can do more as a whole to make the greatest impact for children under five and wider society: 

• Building a culture that prioritises early childhood within businesses, local communities, and wider society.  

• Helping families facing the greatest challenges access the basic support and essentials they need.  

• Offering parents and carers greater support, resources, choice, and flexibility with their work.  

• Prioritising and nurturing social and emotional skills in young children and the adults in their lives.  

• Supporting initiatives which increase access to quality, affordable and reliable early childhood education and care.  

The report’s release was followed by the announcement of a number of new business initiatives for the early years sector, including funding for early years apprenticeships and leadership programmes, increased support for baby banks, and creating welcoming spaces for families with young children. 

The Centre for Early Childhood and Taskforce members will be speaking to business leaders across the UK throughout the year to encourage businesses of all sizes to join the movement. 

Commenting, Neil Leitch CEO of the ÎÞÂëÌìÌÃ, said: 

“We welcome today’s report from the Royal Foundation Business Taskforce, which further proves that investing in the early years is not just incredibly beneficial for the children who use it, but for wider society. 

“For far too long, early education has been dismissed as childcare and educators as simply babysitters. It is therefore extremely positive to see the businesses in this taskforce come together and highlight just how far-reaching the benefits of early education truly are.   

“On top of this, we welcome the initial steps that businesses within the taskforce have taken to ensure that early education is prioritised both within the workplace and the economy, and we hope it inspires others to follow suit.    

“At a time when the sector is already in the spotlight, we hope that this report will not only give ministers real pause for thought, but also act as a reminder that the benefits highlighted by the taskforce cannot come close to being realised without funding that reflects the cost of delivering high-quality early education – both now and in the future."